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1 Section 21. Assignment or Transfer. 2 The Company shall not assign or transfer its rights, duties and obligations under this 3 Agreement, in whole or in part, without first obtaining the written consent of the city, 4 which consent shall not be unreasonably withheld, provided, however, that the City's 5 consent shall not be required with respect to any assignment by the Company to any 6 person or entity that controls, is controlled by, or under common control with the 7 Company or which merges with or into the Company or acquires substantially all ofthe 8 assets of the Company. 9 Section 22. Optional Letter of Credit. 10 In lieu of the performance bond required under Section 12, the Company may elect to 11 give the City a letter of credit for twenty-five thousand dollars ($25,000.00) issued by a 12 bank in the metropolitan area. The letter of credit shall provide that it may be drawn upon 13 under the same circumstances as a surety would be subject to a claim under its bond as 14 provided in Section 12 with respect to the performance bond, except that the letter of 15 credit shall be subject to a draw without any previous demand upon, or notice to the 16 Company. The letter of credit shall also be subject to a draw if it is effective for a limited 17 term and is not replaced by a replacement letter of credit at least thirty (30) days before 18 expiration. The letter of credit shall also be in a form approved by the City attorney and 19 shall be on file with the City Manager and remain so until three hundred sixty-five (365) 20 days after the expiration or termination of the franchise. 21 Section 23. Removal of Shelter. 22 The Company shall within thirty (30) days after receipt of written notice form the City 23 remove any transit shelters that are located at discontinued transit stop sites or which in 24 the sole discretion of the City are in condition of substantial disrepair or deteriorated 25 condition such as to pose a health or safety hazard or diminution of value to the abutting 26 properties. Additionally, the Company shall relocate any transit shelters within thirty 27 (30) days after its receipt of a written request to do so by the City as a result of 28 redevelopment, traffic hazards or changes in bus routes. Any such relocation of a transit 29 shelter shall be to a location mutually agreeable to both parties, but only after issuance of 30 all necessary permits by the Director of Public Works. The Company shall also have the 31 right to remove any transit shelters upon thirty (30) days written notice thereof to the City 32 in the event that any municipality, state, federal or other governmental authority hereafter 33 imposes any rules, regulations or laws that the Company determines to have the effect of 34 materially diminishing the value of such transit shelter for advertising purposes. 35 Section 24. Public Works to Regulate Installation. 36 The Director of Public Works shall regulate the installation of shelters and if, in the 37 opinion of the Director of Public Works, the shelter installation is hazardous, the Director 38 may order the Company to take necessary steps at its own cost to remove or relocate the 8